Import duties collection should be in Naira — NACCIMA
THE President of the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye, has insisted that the duties collected by the Nigeria Customs Service (NCS) should be charged in Naira rather than in a foreign currency. Oye stated this in his response to the Central Bank of Nigeria (CBN) directive on the use of foreign currency collateral for Naira loans, while calling for timely release of 2024 fiscal policy to complement recent monetary policy directives. Oye, who said the association is still unclear about the fiscal policy objectives of the recent directives by the CBN, noted that while the monetary policy directives have resulted in calming the markets, the activities continue to be guided without a complimentary fiscal policy direction. According to him, “We are still unclear about the fiscal policy objectives being pursued through these monetary policy directives. This directive is one of many in the public domai...